Sri Lanka delays budget till polls over

Oct 07, 2009 (LBO) - Sri Lanka will delay its budget for next year, usually presented to parliament in November until national polls scheduled for the first quarter of 2010 is over, a government minister said.
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Deputy finance minister Ranjith Siyambalapitiya said general elections were likely before April and a mini budget or 'vote on accocunt' will cover the period.
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The decision was made at a meeting of the Cabinet of ministers yesterday.


The date when the vote-on-account would be presented to parliament and the period would be decided tomorrow and party leaders also informed, he said.


The 2010 budget is a structural benchmark for December 2009, under a deal signed with the International Monetary Fund (IMF).

A budget is for 12-months. A vote on account is for a lesser period, but a senior official said a 'mini-budget' could also be presented with no negative impact on the IMF program as long as it was under its overall guidelines.

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An IMF official said in September that next year's budget could have a deficit of around 6.75 percent of gross domestic product including 0.

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5 to 0.75 percent in extra reconstruction spending.
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An earlier finance ministry document set the deficit at 6.6 pe

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